Tuesday, November 20, 2012

How to Measure Brand Building Initiatives?

About the Author: CEO/Founder of Nuvento ( a technology firm
that specializes in Business Intelligence and Software Architecture.)

In my previous two posts I pointed out that social media is the new tool for building successful brands. In this post, I try to understand why brands need to measure and track their social reputation.

Using social media, business organizations are successful in establishing a strong presence for their brands and reach out to a wider target segment. Successful brand building, through excellent social engagement methods, creates favorable reputation for brands. However, I believe that engagement is just one part of a successful social strategy. The bigger picture consists of monitoring your brand’s reputation and measuring the impact of your brand building initiatives.

Why Should Brands Measure Their Social Reputation?Social engagement will undoubtedly get you closer to your customers. But if your brand building initiatives have to be exceptionally effective, then you should also make an effort to UNDERSTAND your customers.

For this, organizations must LISTEN carefully to their customers and find out what they are talking about the brand, its products and services.

I’m sure you would agree that that this is no simple task. Organizations often find themselves in a fix when they have to filter and earmark relevant actionable information from thousands of random conversations. But organizations must find a feasible way of doing this because social conversations are the bedrock of social brand building success. These conversations provide precious actionable insights that aid in crucial decision-making.

How Can We Measure It?In my opinion, listening to and understanding social conversations is crucial for effectual brand management. But, identifying and responding to emerging consumer trends is even more important.

Therefore, we at Nuvento Systems Private Limited recognize the growing importance of modern business enterprises’ online initiatives. And to help these organizations to not only track but also measure the impacts of their brand building initiatives, we have developed Shout Analytics, a superior social media analytics platform that seamlessly gathers relevant, useful information from the organisation’s social channels of engagement and converts it into insightful reports that help enterprises make successful brand management decisions, which in turn generate new leads, boost sales and most important of all, increase ROI.